Next year, the amount of debt payments by Ukrzaliznytsia will reach almost 800 million euros
JSC “Ukrzaliznytsia” is preparing for a financially stressful 2026: the company must repay almost 800 million euros on old obligations, which is about a third of all expected revenues. This was reported by Deputy Minister of Community and Territorial Development of Ukraine Oleksiy Balesta. According to him:
“The financial condition of “Ukrzaliznytsia” remains difficult, and at the end of the year the loss will be greater than at the end of 2024. This is a reality that we are working with, step by step.”
Balesta explained that the key reasons for the deterioration of the company’s financial condition were the consequences of Russian aggression: freight volumes fell almost by half, costs increased significantly, and there was an urgent need to restore damaged infrastructure and rolling stock. At the same time, the state has already demonstrated support: in 2025, the government, together with UZ, provided the necessary liquidity and prevented the risk of insolvency, allocating more than UAH 17 billion to the company.
Given the debt load, one of the main tasks of Ukrzaliznytsia in the coming years will be the restructuring of financial obligations. This should help maintain macro-financial stability for both the company and the state, and at the same time not stop development.
Despite the difficult situation, 2026 should also be a year of new opportunities: the launch of the construction of the Eurorail from the Polish border to Lviv is planned, further renewal of the passenger car fleet, development of international routes and modernization of rolling stock.
The Ministry of Regional Development and Transport previously outlined a broader strategy for the development of railway transport: modernization, digitalization and European integration, including a state order mechanism for passenger transportation, new cars and the expansion of services such as Wi-Fi on trains.
